For many families, an estate sale is the best way to liquidate their loved one’s property for distribution according to their wishes. It gets rid of all the necessary items at once and helps maximize the sale potential.
But a traditional estate sale — where buyers come to the home and purchase items in person — is not the only choice you have. For some heirs and families, a multi-estate gallery sale may be a better option. Why? Here are a few answers to questions about this lesser-known choice.
What is a Multi-Estate Gallery Sale?
As its name suggests, a multi-estate gallery sale involves the pooling of more than one estate at a time. The assets of several clients would be brought together in one sale at a set time to capitalize on their shared potential and increase interest and profits. Individual goods are tracked to each estate so that proceeds can be calculated just as they would in a traditional home setting.
The gallery part of this name also means that the estate sale is not generally held at a single property. Instead, it is held in a neutral, dedicated location that serves as a gallery. Sellers may or may not need to be an active part of this sales process.
Gallery sales can be public or private. Public sales advertise the time and location and nearly any interested buyer can attend. Many public sales are on a set schedule to help boost attendance. A private sale follows most of the same processes to prepare for the sale but would invite specific buyers or schedule appointments only.
Why Choose a Gallery Sale?
A pooled gallery sale is particularly valuable in three basic scenarios. First, a gallery sale is a great choice if the estate you sell is not necessarily valuable enough or large enough to warrant its own dedicated estate sale. Small or low-dollar sales might not draw enough attention to get good buyers. Or, they may be more trouble and cost than would be recouped in the sale. In this case, you can get better success by working with other small estates.
The second situation that’s ripe for a gallery sale is one in which it’s not feasible to hold a sale on site. If your property has very limited parking, for instance, you may not be able to get much buyer traffic. The HOA or management may not allow a public sale. Or, you may live in a restricted community where public access is limited. In any of these cases, a different location may be the only way to hold a sale.
Finally, some heirs or families are simply not emotionally or mentally up to the job of an estate sale. Seeing strangers looking at their loved one’s belongings could be too difficult. If this idea makes you particularly uncomfortable, a gallery sale takes the stress away. Items are lovingly moved to a different location and the sale is managed by professionals. The family can be as involved or uninvolved as they wish.
How Do You Hold a Gallery Sale?
If you think that moving your estate sale to a gallery setting could be the right move, where should you begin? Start with a consultation with an experienced estate sale service in your area. They can help assess the value of the property, potential obstacles to a traditional sale, and the logistics of using a gallery setting.
Peachtree Battle Estate Sales & Liquidations offers estate liquidation services as both on-site sales and multi-estate gallery sales. With more than 25 years of experience serving Georgia families, we can help you find the right solution for any estate. Call today to schedule a free consultation.